Glenmark Pharma profit after tax rises marginally to Rs 279 crore in Q2

The Mumbai-based drug firm had reported a PAT of Rs 275 crore in the July-September period of the previous fiscal.

Consolidated revenue rose to Rs 3,375 crore in the period under review as against Rs 3,147 crore in the year-ago quarter, Glenmark Pharma said in a regulatory filing.

Reported EBITDA was at Rs. 6,216 Mn in the quarter ended Sept 30, 2022, as against Rs. 5,902 Mn in the previous corresponding quarter, with margin of 18.4%, registering an increase of 5.3%. Adjusted EBITDAi for the quarter was at Rs. 6,526 Mn, with adjusted EBITDA margin of 19.3%.

"We delivered yet another quarter of consistent growth, with our relentless focus on launching differentiated productsin our core therapeutic areas. Our novel drug RyaltrisTM waslaunched in the US by our partner Hikma, and our Canadian partner, Bausch Health, received marketing approval from Health Canada with an expected launch during the second half of the financial year. Our India business recorded strong double‐digit growth and our Europe business also performed very well in spite of a challenging macro‐economic environment," said Glenn Saldanha, Chairman, and Managing Director, Glenmark Pharmaceuticals Ltd. He further added, "We look forward to launching new products across markets and building global scale in our respiratory portfolio. We remain focused in achieving our strategic objectives for the financial year."

Glenmark Pharmaceuticals Limited is a global research-led pharmaceutical company with a presence across generics, specialty and OTC businesses and with operations in over 50 countries. Glenmark's key therapy focus areas globally are respiratory, dermatology, and oncology. The company was listed on the Dow Jones Sustainability Index (DJSI), one of the world's most respected and widely accepted sustainability benchmarks, under the category of emerging markets (2021) for the fourth consecutive year.